Originally Posted by
an mec
The Sapphire Preferred has the same fee as the Fairmont card. I think that is why they are converting to it. If your card is less than a year old it may not be eligible for a product change, but that should change after the first anniversary.
Is your card over a year old or did you get it in January?
At a minimum, after the first annual fee, you can PC it to a Freedom or a Freedom Unlimited that have no annual fee and they will 'hold' your UR points.
This is a good thing. URs are 'much' > Fairmont points.
Not a new card. I have had it about a year and a half now. I plan to call them tomorrow and see if they will down grade to a Freedom Unlimited. I am missing out on the $100 sign up bonus for that but it's still better to save the CSP for a future sign up. The Freedom Unlimited will be a keeper.